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You can qualify for trader status and MTM and still have investment accounts that are segregated from your trading activities.

This is correct.

Not to be a jerk, but how does an application use more than 100% of your CPU?

As a followup, I think I am confusing myself here. I think I am thinking of the mark-to-market accounting election - you can't retroactively apply that to the 2017 tax year if you have not already declared that by the 2017 deadline (already passed). Achieving "trader tax status" I think is a...

I seem to recall that you have to file for trader status for the following tax year - you cannot be retroactively apply it to previous tax years. So the OP can file for trader status for the tax year 2018, but the window on 2017 is probably closed. In that case, it won't help the OP with his...

Dumping TurboTax seems to be a legitimate option. I did that many years ago for a similar problem. Whoever designed that software must not know about the "decimal" type. Ridiculous.

They never responded to my application. Assuming my MTM application was successful (it has been more than 10 years ago that I submitted it), it might mean that they contact you in case they reject your application. I have a feeling though that your paperwork just gets filed somewhere and no one...

Every year you have to qualify for trader tax status, i.e., every trading year's activity has to be enough to qualify. So if you are declaring MTM for 2018, then you would only have to prove your 2018 activity was sufficient.

This is correct.

I completed the Qualified Dividends and Capital Gains Tax Worksheet for Form 1040, Line 44 and all of my qualified dividends were taxed at 15%. If I had a lot more income, most likely the qualified dividends would have all been taxed at 20%. If you look at this worksheet, there are edge cases...

The K-1 flows through to your personal taxes. For example, the 11C box (according to the instructions), flows through to Form 6781, line 1. These gains are taxed at 60% long term, 40% short term, so depending on your tax bracket, the blended rate will be anywhere from 20% to 28%. Let's say your...

Since you did not realize your loss until 2018, the problem is that you have to pay the partnership activity taxes along the way. So if you have a 100,000 number in box 11 C on your 2017 K-1, you'll have to pay taxes in 2017 on that 100,000 income and adjust your cost basis in the position...

I have never held these K-1s for long periods of time, so I do not understand why there would be a difference between Box L Current year increase (decrease) and Cumulative Adjustment to Tax Basis column. The video that you linked shows examples where they are different, but I've never...

Not a tax expert, but since you held the security from 2014 (and part of it from 2015), this means that you should have already received K-1s for 2014, 2015, 2016, and now 2017. Each year you should have paid taxes on the partnership activities for that year and then adjusted your cost basis...

Again, not a tax expert but if your K-1 has no tax implications for you at all (i.e., all the boxes are 0 in Part III, Lines 1-20), you can ignore it.

Isn't there an option to group all trades in the different categories (like covered, long-term) per brokerage? Maybe you can only use that in certain simplified situations.

Yes, keep us updated of what happens with your situation. I'm sure other people would benefit from the information.

You might try and see if Tax Package Support will e-mail you your K-1s that you should have received for SVXY since 2012. Then you will have an accurate idea of the numbers you should have reported on your tax return every year since 2012. Note that just because you had a large gain in SVXY from...

Sorry to hear you got hurt by the Volpocalypse. The problem is that you *should* have received K-1s all along (since 2012). I am surprised that that information was not passed along to you from your broker. It is possible that they did not report the SVXY trades to the proper reporting...

It doesn't matter if you designate certain shares to be sold at your broker when it comes to K-1s. All K-1s are interested in is the number of shares you own each evening. Even if there is a discrepancy between which shares are involved, the number of shares that you own each evening will not...